GREENWAY BLOG

7 February 2025

MarketMinute | More sellers are cutting prices

The monthly JOLTs report showed a drop in job openings during December. Hiring, voluntary quits, and layoffs held steady. Treasury Secretary Bessent said the Trump administration will focus on driving the 10-year Treasury yield lower, which may help mortgage rates. New tariffs on Canada and Mexico were delayed for 30 days, helping mortgage rates remain at current levels.  Purchase mortgage applications fell 4% from the previous week, though they were flat from the same week a year ago....

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3 February 2025

Pre-Approved for a Mortgage Loan? Stick to the Game Plan!

Pre-Approved for a Mortgage Loan?  Huddle up! You’ve been pre-approved—great start! But just like in football, getting to the end zone (aka closing day) requires strategy, discipline, and avoiding costly penalties. One key play to remember: Your credit and financial history aren’t just evaluated when you get pre-approved—they can be reviewed again at any point before closing. Any major financial moves could sideline your approval. Here are some “fouls” to avoid so you can make it all the way to homeownership: 🚩 Don’t open new credit lines or close current ones. Your credit history is a major factor in...

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31 January 2025

MarketMinute | New home sales are a bright spot amidst rate challenges.

The Fed left its policy rate unchanged in January and sent a clear signal it will keep rates unchanged until fresh data dictates otherwise. Consumer confidence unexpectedly dipped to a 4-month low in January. Optimism fell due to the future labor market and economic outlook. However, the economy remains on solid footing. A still-strong labor market helped power consumer spending as GDP grew 2.5% in the fourth quarter.  New home sales were up 6.7% year over year in December. Annual sales came in 2.5%...

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31 January 2025

Is Renting or Buying a Better Fit for You? Take This Quiz to Find Out!

  Should You Rent or Buy a Home? Deciding whether to rent or buy a home is a big decision—one that depends on your lifestyle, financial situation, and long-term goals. There’s no right or wrong answer, but this simple exercise might help you find which option feels more aligned with where you are right now. Take a look at the chart below and think about which options resonate more with your priorities:   What Do Your Answers Say About You? If you answered mostly A’s , homeownership might be the right option for you. It offers stability, the opportunity to build equity, and the freedom to create a...

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24 January 2025

MarketMinute | How much more are homeowners paying for insurance?

New unemployment applications hovered near pre-pandemic averages last week, but continuing claims surged to a 3-year high of 1.9 million. The number of consumers making only the minimum credit card payment jumped to a 12-year high in 2024. Delinquencies also rose to new highs. Global think tank The Conference Board projects the U.S. economy will expand at an upwardly revised 2.3% pace in 2025.  A Treasury Department study found home insurance costs rose 8.7% faster than inflation from 2018-22, driven by...

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